Installing a solar panel system on your home or business is a big decision. However, if you live in Missouri, you have more incentives to take advantage of than those who live elsewhere. Unlike many other states, some Missouri utilities offer financial rebates to those who choose to install a new solar panel system on their home or business. This is in addition to federal investment tax credit for solar and any other incentives your installer may offer. When you start to add them all up, the price for installing a solar panel system drops dramatically. Let's take a look at all the incentives Missourians have to go solar.
Federal Investment Tax Credit
The first thing you need to know before you install a solar panel system is that the federal government offers a 26% tax credit to help you pay for it. This means Missouri homeowners and businesses can deduct 26% of the total cost of purchase and installation off their federal taxes just for installing a solar system. This amount varies depending on your income, but usually averages between $6,000-$7,000.
Columbia Water & Light Solar Panel Rebate
If you live in Columbia, Missouri, Columbia Water & Light offers tiered solar rebates for Missouri homeowners and businesses who install solar. They are as follows:
- 0 – 10 kW: $375 – $625 per kW
- 10 – 50 kW: $300 – $500 per kW; and
- 50 – 100 kW: $150 – $250 per kW.
- More than 100 kW: No additional rebate offered.
Note that these tiers are progressive, meaning that if you install a solar panel system that is 45 kilowatts, you will get the rebate amount for the first 10 kilowatts in the 0-10 kilowatts range and then the rebate amount for the remaining 35 kilowatts in the 10-50 range. Be sure to check with Columbia Water & Light for additional program requirements and eligibility.
Liberty Utilities Solar Panel Rebate
Missouri businesses and homeowners who are customers of Liberty Utilities (formerly Empire District Electric) will receive a rebate of $0.25 per watt for the installation of a solar panel system through 2023. Customers must have a permanent solar installation that uses new equipment. The warranty on the solar panels must be for at least 10 years, and the customer must have an active account with Liberty Utilities. As long as the homeowner or business owner meets these requirements, they are eligible for rebates. Be sure to check with Liberty Utilities for additional program requirements.
Evergy Solar Panel Rebate
Active customers who install Missouri solar panel systems can apply for a rebate of $0.25 per watt of solar power that's installed on their home or business before 2023. An average solar power system requires between 25 and 35 panels. A 30-panel system that produces 250 watts per panel would be a 7.5 kilowatt system, eligible for up to $1,875 in rebates. As long as you have a net metered solar panel installation, you are also eligible sell back any excess power produced to the utility. Be sure to check with Evergy to determine program eligibility and requirements.
Ameren Missouri Solar Panel Rebate
If you're a homeowner or business that has Ameren Missouri as your electric provider, you are eligible for a $0.25 per watt rebate on any new solar panel system you install through 2023 The maximum allowable rebate for a residential solar installation is 25 kilowatts and the maximum for businesses is 150 kilowatts. You will also be able to sell any excess power you generate back to the utility by installing a special net metering device on your system. Be sure to check with Ameren Missouri for additional program requirements and eligibility.
Shine Makes It Even Easier To Install Solar
In addition to the federal tax credit and the rebates from your electric utility, Shine also offers zero down, zero interest and zero payments for the first 12 months you own your system through our Shine Smart program. That's even more money you can put toward the cost of your system.
The Shine Promise
We guarantee that within the first 12 years of your solar installation, if you experience maintenance issues due to a faulty installation, we will return and make any necessary repairs, free of charge. We also provide free monitoring for the lifetime of your system through our online app and offer a minimum power output guarantee for every solar panel system we install.
Get Your Free Estimate
So, if you live in Missouri, there has never been a better time than now to go solar. But, how much will it cost?
Let us provide you with a free online estimate. Simply go to www.estimate.shinesolar.com, enter your information and in just minutes you will have a ballpark price customized for your home or business. Don't forget to deduct any of the above incentives that may apply and when you're ready, call us at 844-80-SHINE and we'll arrange a time to work with you.
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